Revenues for the quarter were up 2% year-on-year to £568m – and the company described its operating profit as "well ahead" of expectations.

DMGT chief executive Martin Morgan said: "This good performance, along with continued management of our cost base, will help to offset the effect of weaker trading conditions going forward."

He added that the breadth of the company's portfolio would give it "considerable overall resilience" in a tough market.

Highlights for the company were in its risk management division, which provides products, services and expertise for the quantification and management of catastrophe risk, posting revenues for the quarter (ending 31 December) up 57% to £34m, with currency changes helping considerably.

Its media portfolio was more problematic. Associated Newspapers revenues fell 5% to £237m, although circulation revenues rose 1% after the company rolled out cover price rises.

Advertising revenues were hit hard by the decline in the newspaper segment, down 9%, and the company warned that trading in January was resulting in ad revenues down almost a quarter.

DMGT's regional division Northcliffe Media also suffered, as many regional publishers have. Revenues were down 18% to £86m although the international proportion of this showed a rise.

However digital revenues were up 6% and visitors to the company's network of "thisis" sites rose by two-thirds.

Andy Viner, head of media at BDO Stoy Hayward, said: "Considering the current market, today's results are particularly encouraging. The company is evidently benefiting from having a clear long-term strategy ... which is less reliant on UK newspaper titles in the consumer market towards the more resilient and subscription-based B2B market."

Shares in DMGT dropped marginally on the news from yesterday's close of 283p to the 268.5p price at the time of writing.